PSQ Holdings Financials
This page shows PSQ Holdings (PSQH) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
PSQ Holdings has an operating margin of -240.1%, meaning the company retains $-240 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -692.0% the prior year.
PSQ Holdings's revenue surged 308.0% year-over-year to $23.2M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
PSQ Holdings has a moderate D/E ratio of 1.79. This balance of debt and equity financing earns a leverage score of 45/100.
With a current ratio of 5.43, PSQ Holdings holds $5.43 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.
While PSQ Holdings generated -$34.1M in operating cash flow, capex of $0 consumed most of it, leaving -$34.1M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
PSQ Holdings passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, PSQ Holdings generates $0.59 in operating cash flow (-$34.1M OCF vs -$57.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
PSQ Holdings generated $23.2M in revenue in fiscal year 2024. This represents an increase of 308.0% from the prior year.
PSQ Holdings's EBITDA was -$52.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 42.1% from the prior year.
PSQ Holdings generated -$34.1M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 31.9% from the prior year.
PSQ Holdings reported -$57.7M in net income in fiscal year 2024. This represents a decrease of 8.2% from the prior year.
PSQ Holdings earned $-1.80 per diluted share (EPS) in fiscal year 2024. This represents an increase of 25.9% from the prior year.
PSQ Holdings held $33.6M in cash against $0 in long-term debt as of fiscal year 2024.
PSQ Holdings's operating margin was -240.1% in fiscal year 2024, reflecting core business profitability. This is up 451.8 percentage points from the prior year.
PSQ Holdings's net profit margin was -248.7% in fiscal year 2024, showing the share of revenue converted to profit. This is up 689.2 percentage points from the prior year.
PSQ Holdings invested $4.4M in research and development in fiscal year 2024. This represents a decrease of 4.2% from the prior year.
PSQ Holdings invested $0 in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 100.0% from the prior year.
PSQH Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $4.4M-37.8% | $7.1M+4.9% | $6.7M-36.0% | $10.5M+76.1% | $6.0M+72.7% | $3.5M+26.2% | $2.7M+35.3% | $2.0M |
| Cost of Revenue | N/A | N/A | N/A | $609K+14.7% | $531K | N/A | N/A | $570K |
| Gross Profit | N/A | N/A | N/A | $2.6M-35.3% | $4.0M | N/A | N/A | $558K |
| R&D Expenses | $1.2M-4.5% | $1.3M-9.6% | $1.4M-22.4% | $1.9M+79.5% | $1.0M-9.6% | $1.1M-56.1% | $2.6M+75.2% | $1.5M |
| SG&A Expenses | $8.1M+36.3% | $6.0M-43.2% | $10.5M-9.1% | $11.6M+5.4% | $11.0M+7.1% | $10.3M+251.0% | $2.9M-32.2% | $4.3M |
| Operating Income | -$9.7M-20.3% | -$8.1M+31.1% | -$11.7M+29.2% | -$16.5M-17.7% | -$14.0M+5.9% | -$14.9M-9.3% | -$13.6M-5.1% | -$13.0M |
| Interest Expense | N/A | N/A | N/A | $757K+36.8% | $553K+545.6% | -$124K+66.6% | -$372K-896.7% | $47K |
| Income Tax | -$8K-12877.8% | -$63-100.8% | $8K | $0-100.0% | $14K+3450.1% | -$419-200.2% | $418+259.5% | -$262 |
| Net Income | -$12.0M-43.2% | -$8.4M-88.1% | -$4.4M+78.6% | -$20.7M-84.6% | -$11.2M+10.7% | -$12.6M-121.4% | -$5.7M+71.9% | -$20.2M |
| EPS (Diluted) | $-0.26-44.4% | $-0.18-80.0% | $-0.10+83.1% | $-0.59-63.9% | $-0.36+18.2% | $-0.44-450.0% | $-0.08+89.6% | $-0.77 |
PSQH Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $58.8M-10.1% | $65.5M-1.1% | $66.2M-11.7% | $74.9M+66.2% | $45.1M-7.3% | $48.6M+92.6% | $25.2M-24.1% | $33.2M |
| Current Assets | $30.5M-5.3% | $32.2M-17.0% | $38.7M-17.3% | $46.8M+177.9% | $16.9M-15.0% | $19.8M-6.3% | $21.2M-30.2% | $30.3M |
| Cash & Equivalents | $10.6M-48.5% | $20.6M-26.6% | $28.0M-16.7% | $33.6M+341.9% | $7.6M-16.5% | $9.1M-44.6% | $16.4M-34.9% | $25.3M |
| Inventory | N/A | $2.5M+4.5% | $2.4M-8.7% | $2.7M+108.5% | $1.3M+5.8% | $1.2M-16.1% | $1.4M-2.5% | $1.5M |
| Accounts Receivable | $183K-70.7% | $624K-7.5% | $674K+403.8% | $134K-60.7% | $341K-6.8% | $366K+78.5% | $205K | N/A |
| Goodwill | $10.9M0.0% | $10.9M0.0% | $10.9M0.0% | $10.9M0.0% | $10.9M0.0% | $10.9M | $0 | N/A |
| Total Liabilities | $43.9M+2.2% | $43.0M+7.2% | $40.1M-16.5% | $48.0M+46.3% | $32.8M+8.2% | $30.3M+104.8% | $14.8M-31.9% | $21.7M |
| Current Liabilities | $12.0M+10.7% | $10.9M+26.6% | $8.6M-0.6% | $8.6M-4.5% | $9.0M-31.6% | $13.2M+229.7% | $4.0M+25.4% | $3.2M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $14.9M-33.7% | $22.5M-13.7% | $26.0M-3.1% | $26.9M+119.6% | $12.2M-33.1% | $18.3M+75.3% | $10.4M-9.3% | $11.5M |
| Retained Earnings | -$144.7M-9.0% | -$132.7M-6.7% | -$124.3M-3.7% | -$119.9M-39.4% | -$86.0M-15.0% | -$74.8M-20.2% | -$62.2M-10.1% | -$56.5M |
PSQH Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$6.1M-25.3% | -$4.9M+24.5% | -$6.4M+8.1% | -$7.0M+32.8% | -$10.4M-59.6% | -$6.5M+11.2% | -$7.4M+12.4% | -$8.4M |
| Capital Expenditures | N/A | N/A | N/A | $0 | N/A | N/A | $0-100.0% | $1 |
| Free Cash Flow | N/A | N/A | N/A | -$7.0M | N/A | N/A | -$7.4M+12.4% | -$8.4M |
| Investing Cash Flow | -$3.0M-4.3% | -$2.9M-59.9% | -$1.8M+12.7% | -$2.1M-603.8% | $411K+214.6% | -$359K+75.4% | -$1.5M-115.6% | $9.4M |
| Financing Cash Flow | $552K+57.0% | $352K+582.6% | -$73K-100.2% | $40.0M+375.6% | $8.4M+3994.6% | -$216K-1962509.1% | $11-100.0% | $18.1M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
PSQH Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | 81.0%+13.9pp | 67.1% | N/A | N/A | 27.5% |
| Operating Margin | -220.1%-106.4pp | -113.8%+59.4pp | -173.2%-16.6pp | -156.6%+77.8pp | -234.4%+195.7pp | -430.1%+66.4pp | -496.5%+142.6pp | -639.1% |
| Net Margin | -272.0%-153.9pp | -118.1%-52.2pp | -65.9%+130.8pp | -196.7%-9.0pp | -187.7%+175.1pp | -362.9%-156.1pp | -206.8%+789.7pp | -996.5% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -20.4%-7.6pp | -12.8%-6.1pp | -6.7%+21.0pp | -27.7%-2.8pp | -24.9%+0.9pp | -25.9%-3.4pp | -22.5%+38.4pp | -60.9% |
| Current Ratio | 2.54-0.4 | 2.97-1.6 | 4.52-0.9 | 5.43+3.6 | 1.87+0.4 | 1.50-3.8 | 5.29-4.2 | 9.50 |
| Debt-to-Equity | 2.95+1.0 | 1.92+0.4 | 1.54-0.2 | 1.79-0.9 | 2.68+1.0 | 1.66+0.2 | 1.42-0.5 | 1.89 |
| FCF Margin | N/A | N/A | N/A | -66.4% | N/A | N/A | -267.6%+145.8pp | -413.3% |
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Frequently Asked Questions
What is PSQ Holdings's annual revenue?
PSQ Holdings (PSQH) reported $23.2M in total revenue for fiscal year 2024. This represents a 308.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is PSQ Holdings's revenue growing?
PSQ Holdings (PSQH) revenue grew by 308% year-over-year, from $5.7M to $23.2M in fiscal year 2024.
Is PSQ Holdings profitable?
No, PSQ Holdings (PSQH) reported a net income of -$57.7M in fiscal year 2024, with a net profit margin of -248.7%.
What is PSQ Holdings's earnings per share (EPS)?
PSQ Holdings (PSQH) reported diluted earnings per share of $-1.80 for fiscal year 2024. This represents a 25.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is PSQ Holdings's EBITDA?
PSQ Holdings (PSQH) had EBITDA of -$52.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is PSQ Holdings's operating margin?
PSQ Holdings (PSQH) had an operating margin of -240.1% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is PSQ Holdings's net profit margin?
PSQ Holdings (PSQH) had a net profit margin of -248.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is PSQ Holdings's free cash flow?
PSQ Holdings (PSQH) generated -$34.1M in free cash flow during fiscal year 2024. This represents a -31.9% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is PSQ Holdings's operating cash flow?
PSQ Holdings (PSQH) generated -$34.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are PSQ Holdings's total assets?
PSQ Holdings (PSQH) had $74.9M in total assets as of fiscal year 2024, including both current and long-term assets.
What are PSQ Holdings's capital expenditures?
PSQ Holdings (PSQH) invested $0 in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does PSQ Holdings spend on research and development?
PSQ Holdings (PSQH) invested $4.4M in research and development during fiscal year 2024.
What is PSQ Holdings's current ratio?
PSQ Holdings (PSQH) had a current ratio of 5.43 as of fiscal year 2024, which is generally considered healthy.
What is PSQ Holdings's debt-to-equity ratio?
PSQ Holdings (PSQH) had a debt-to-equity ratio of 1.79 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is PSQ Holdings's return on assets (ROA)?
PSQ Holdings (PSQH) had a return on assets of -77.0% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is PSQ Holdings's cash runway?
Based on fiscal year 2024 data, PSQ Holdings (PSQH) had $33.6M in cash against an annual operating cash burn of $34.1M. This gives an estimated cash runway of approximately 12 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is PSQ Holdings's Piotroski F-Score?
PSQ Holdings (PSQH) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are PSQ Holdings's earnings high quality?
PSQ Holdings (PSQH) has an earnings quality ratio of 0.59x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is PSQ Holdings?
PSQ Holdings (PSQH) scores 49 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.